Could Waste Connections Inc Skyrocket Even More? The Stock Just Made 52-Week High

November 23, 2016Louis Casey

The stock of Waste Connections Inc (TSE:WCN) hit a new 52-week high and has $108.59 target or 4.00% above today’s $104.41 share price. The 8 months bullish chart indicates low risk for the $18.57 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $108.59 price target is reached, the company will be worth $742.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 12,286 shares traded hands. Waste Connections Inc (TSE:WCN) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.

Waste Connections Inc (TSE:WCN) Ratings Coverage

Out of 5 analysts covering Waste Connections (TSE:WCN), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $118.50 is the highest target while $84 is the lowest. The $95.70 average target is -8.34% below today’s ($104.41) stock price. Waste Connections has been the topic of 7 analyst reports since June 9, 2016 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Thursday, October 27 with “Outperform”. On Thursday, June 9 the stock rating was maintained by Barclays Capital with “Overweight”. Goldman Sachs initiated Waste Connections Inc (TSE:WCN) rating on Tuesday, November 1. Goldman Sachs has “Buy” rating and $90.0 price target. The company was maintained on Wednesday, September 21 by RBC Capital Markets. The rating was initiated by Macquarie Research on Friday, August 26 with “Outperform”.

More important recent Waste Connections Inc (TSE:WCN) news were published by: Bloomberg.com which released: “Waste Connections to Buy Progressive Waste, Move to Canada” on January 19, 2016, also Prnewswire.com published article titled: “Waste Connections Announces 24.1% Increase In Regular Quarterly Cash Dividend”, Wsj.com published: “Waste Connections, Progressive Waste Committed to Deal Despite New Inversion Rules” on April 05, 2016. More interesting news about Waste Connections Inc (TSE:WCN) was released by: Forbes.com and their article: “Ex-Dividend Reminder: Texas Instruments, American Airlines Group and Waste …” with publication date: November 01, 2016.

Waste Connections Inc, formerly Progressive Waste Solutions Ltd, is a Canada waste management company. The company has a market cap of $18.57 billion. The Firm provides waste collection, recycling and disposal services to commercial, industrial, municipal and residential clients in over 10 states in the United States, and the District of Columbia, and in over six Canadian provinces. It has a 40.94 P/E ratio. The Firm operates through three divisions: the East, the West and the North.